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Security National Financial Corporation engages in the life insurance, cemetery and mortuary, and mortgage businesses. The company's Life Insurance segment is involved in selling and servicing lines of life insurance, annuity products, and accident and health insurance. It offers various life insurance products, including funeral plans and interest-sensitive life insurance, as well as other traditional life, accident, and health insurance products; and annuity products comprising single and flexible premium deferred annuities, and immediate annuities. This segment also cedes and assumes various risks with various authorized unaffiliated reinsurers pursuant to reinsurance treaties. Its cemetery and mortuary segment consists of eleven mortuaries and five cemeteries in the state of Utah, one cemetery in the state of California, and one cemetery and four mortuaries in the state of New Mexico. This segment also offers plots, interment vaults, mausoleum crypts, markers, caskets, urns, and other death care related products; and provides professional services of funeral directors, opening and closing of graves, use of chapels and viewing rooms, and use of automobiles and clothing, as well as engages in pre-need selling of funeral, cemetery, mortuary, and cremation services. The company's Mortgages segment originates and underwrites residential and commercial loans for new construction, existing homes, and real estate projects primarily in Florida, Arizona, Nevada, Texas, and Utah. It offers residential mortgage lending services to real estate brokers and builders, as well as directly to consumers. Security National Financial Corporation was founded in 1965 and is headquartered in Salt Lake City, Utah.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $345M | $46M | $32M | $44M | 7.8% | 3.0% | 10.4% |
| 2024 | $335M | $42M | $29M | $55M | 7.6% | 5.3% | 100.9% |
| 2023 | $319M | $21M | $14M | $53M | 4.6% | -18.5% | -43.6% |
| 2022 | $391M | $42M | $26M | $129M | 8.8% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 390.73 | 318.52 | 335.45 | 345.39 |
| EBIT | 42.21 | 21.17 | 41.63 | 45.93 |
| Pretax Income | 34.38 | 16.30 | 37.37 | 41.41 |
| Tax Provision | 8.69 | 1.81 | 8.25 | 9.26 |
| Net Income | 25.69 | 14.50 | 29.12 | 32.15 |
| Net Income Common Stockholders | 25.69 | 14.50 | 29.12 | 32.15 |
| Total Expenses | 356.35 | 302.22 | 298.08 | 303.98 |
| Interest Expense | 7.83 | 4.87 | 4.25 | 4.52 |
| Interest Income | 9.67 | 9.55 | 8.19 | 8.65 |
| Selling General And Administration | 158.49 | 125.77 | 120.97 | 125.42 |
| Normalized Income | 25.69 | 14.50 | 29.12 | 32.15 |
| Basic EPS | 1.05 | 0.60 | 1.19 | 0 |
| Diluted EPS | 1.02 | 0.58 | 1.16 | 0 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.25 | 0.11 | 0.22 | 0.22 |
| Total Unusual Items | 0.41 | 0 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | 0.41 | 0 | 0 | 0 |
| Net Income From Continuing Operation Net Minority Interest | 25.69 | 14.50 | 29.12 | 32.15 |
| Reconciled Depreciation | 17.68 | 9.23 | 8.78 | 8.72 |
| Net Interest Income | -15.37 | -11.31 | -10.39 | -11.14 |
| Net Income From Continuing And Discontinued Operation | 25.69 | 14.50 | 29.12 | 32.15 |
| Rent Expense Supplemental | 6.88 | 6.86 | 5.15 | 3.76 |
| Diluted Average Shares | 25.40 | 25 | 25.19 | 0 |
| Basic Average Shares | 24.46 | 24.35 | 24.49 | 0 |
| Diluted NI Availto Com Stockholders | 25.69 | 14.50 | 29.12 | 32.15 |
| Net Income Including Noncontrolling Interests | 25.69 | 14.50 | 29.12 | 32.15 |
| Net Income Continuous Operations | 25.69 | 14.50 | 29.12 | 32.15 |
| Other Income Expense | 186.54 | 98.41 | 107.60 | 108.25 |
| Special Income Charges | 0.41 | 0 | 0 | 0 |
| Other Special Charges | -0.41 | 0 | 0 | 0 |
| Net Non Operating Interest Income Expense | -15.37 | -11.31 | -10.39 | -11.14 |
| Total Other Finance Cost | 7.54 | 6.44 | 6.13 | 6.62 |
| Interest Expense Non Operating | 7.83 | 4.87 | 4.25 | 4.52 |
| Other Operating Expenses | 5.80 | 4.83 | 5.74 | 5.47 |
| Depreciation And Amortization In Income Statement | 2.50 | 2.35 | 2.38 | 2.43 |
| Depreciation Income Statement | 2.50 | 2.35 | 2.38 | 2.43 |
| Selling And Marketing Expense | 5.70 | 3.71 | 3.12 | 3.51 |
| General And Administrative Expense | 152.79 | 122.06 | 117.86 | 121.91 |
| Other Gand A | 52.68 | 38.92 | 32.77 | 34.76 |
| Salaries And Wages | 100.11 | 83.14 | 85.08 | 87.15 |
| Operating Revenue | 390.73 | 318.52 | 335.45 | 345.39 |
| Loss Adjustment Expense | 92.93 | 100.01 | 100.61 | 100.82 |
| Net Policyholder Benefits And Claims | 92.93 | 100.01 | 100.61 | 100.82 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Security National Financial Corporationthis co. | SNFCA | $238M | 7.63↓ discount | 0.58 | 7.8% | 4.28 |
| Ames National Corporation | ATLO | $248M | 11.57 | 1.19 | 9.2% | - |
| Kingstone Companies, Inc. | KINS | $245M | 5.89 | 1.99 | 33.2% | 4.55 |
| Chain Bridge Bancorp, Inc. | CBNA | $243M | 11.18 | 1.43 | 12.0% | - |
| Princeton Bancorp, Inc. |
| BPRN |
| $242M |
| 12.49 |
| 0.88 |
| 6.9% |
| - |
| First United Corporation | FUNC | $239M | 9.50 | 1.17 | 12.0% | - |
| Hawthorn Bancshares, Inc. | HWBK | $232M | 9.82 | 1.33 | 13.7% | - |
| LCNB Corp. | LCNB | $231M | 10.07 | 0.84 | 8.4% | - |
| Virginia National Bankshares Corporation | VABK | $229M | 11.44 | 1.24 | 10.5% | - |
| Peer Median | - | 10.63 | 1.21 | 11.2% | 4.55 | |